Customers Concerned about Security in CurrentC vs. Apple Debate

Customers Concerned about Security in CurrentC vs. Apple Debate

Customers are worried about the safety of their banking information

Customers Concerned about Security in CurrentC vs. Apple DebateAccording to a new study, two-thirds of consumers are concerned about their financial data being stolen at retailers. A lot of this concern comes from the proposal of CurrentC, a mobile payment system being proposed this week by more than 50 retailers.

These retailers, such as CVS, Rite Aid, Walmart and Best Buy, have turned down the ability to use the new Apple Pay technology in order to offer the new payment app in 2015. Consumers are upset that the app is linked to their individual bank accounts, meaning fraud could be much more damaging than Apple Pay which uses credit cards.

This came to a head this week when hackers broke into CurrentC and stole user emails. CurrentC will also be able to see what the shopper bought, as well as know their name, home address, email, phone number and location.

Two-thirds of consumers are concerned about the rise in credit card breaches, such as last year’s at Target and Home Depot, and have adjusted their shopping habits accordingly.

20% said they were more comfortable using digital wallets instead of credit cards, and 61% of the 18- to 24-year-old demographic said they would prefer to use cash in stores that have had security breaches. 49% of those 65 and older said they would switch to cash as well.

About the Author

Matt Holden is an Associate Content Editor for 1105 Media, Inc. He received his MFA and BA in journalism from Ball State University in Muncie, Indiana. He currently writes and edits for Occupational Health & Safety magazine, and Security Today.

Featured

  • Unlocking the Possibilities

    Security needs continue to evolve and end users are under pressure to address emerging risks and safety concerns. For many, that focus starts with upgrading perimeter openings and layering technologies—beginning at the door. Read Now

  • Freedom of Choice

    In today's security landscape, we are witnessing a fundamental transformation in how organizations manage digital evidence. Law enforcement agencies, campus security teams, and large facility operators face increasingly complex challenges with expanding video data, tightening budget constraints and inflexible systems that limit innovation. Read Now

  • Accelerating a Pathway

    There is a new trend touting the transformational qualities of AI’s ability to deliver actionable data and predictive analysis that in many instances, seems to be a bit of an overpromise. The reality is that very few solutions in the cyber-physical security (CPS) space live up to this high expectation with the one exception being the new generation of Physical Identity and Access Management (PIAM) software – herein recategorized as PIAM+. Read Now

  • Protecting Your Zones

    It is game day. You can feel the crowd’s energy. In the parking lot. At the gate. In the stadium. On the concourse. Fans are eager to party. Food and merchandise vendors ready themselves for the rush. Read Now

  • Street Smarts

    The ongoing acceptance of AI and advanced data analytics has allowed surveillance camera technology to shift from being a tactical tool to a strategic business solution. Combining traditional surveillance technology with AI-based data-driven insights can streamline transportation systems, enhance traffic management, improve situational awareness, optimize resource allocation and streamline emergency response procedures. Read Now

New Products

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • AC Nio

    AC Nio

    Aiphone, a leading international manufacturer of intercom, access control, and emergency communication products, has introduced the AC Nio, its access control management software, an important addition to its new line of access control solutions.

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.